Power grid can cope with increased electrification
An upgraded power grid will enable installation of heat pumps and EV chargers and also fuel investment and business growth. But network companies will need to make significant investments to transition to low-marginal cost renewables, a move that will enable electrification of heat and transport and see a fall in long-term network costs per unit of energy delivered. That’s according to a new report, ‘Building an Electricity Network for Net Zero’, that evaluates existing initiatives from the UK Government, OFGEM and network operators to develop grid capacity and ease access to...